Source: The Hindu Business Line, Oct 10, 2017
New Delhi: The Department of Economic Affairs has approved four foreign direct investment proposals in September worth INR 85.45 crore.
The approvals include a proposal by India Ports & Logistics Pvt Ltd for acquisition of additional stake of up to 70.40 per cent of India Ports & Logistics Private Ltd by Bollore Africa Logistics SAS involving an investment of INR 75.35 crore, according to an official release.
Aashiyaan Housing & Development Finance Pvt Ltd’s proposal for foreign investments worth INR 10 crore from Insitor Impact South Asia Pte Ltd, Singapore and Oikocredit Ecumenical Development Cooperative Society U.A, Netherlands (‘Foreign Investors’) to commence its operations as a micro housing finance company in eastern India focusing on Tier II and Tier III towns and surrounding rural areas have also been approved. Two proposals, one from Principal Pnb Asset Management Pvt Ltd and the other from Invesco Asset Management Pvt Ltd, for post-facto approval for the indirect foreign investment made in MF Utilities India Private Ltd worth INR 5 lakh each also got the nod.